Summary
- International oil prices were rising as uncertainty over negotiations between the US and Iran deepened.
- Brent crude futures and West Texas Intermediate crude futures were up 2.2%% and 1.93%%, respectively, trading at $101.31 and $96.22 a barrel.
- Iran was reported to have presented a new legal framework for the Strait of Hormuz, compensation for war damage, guarantees against renewed aggression and the lifting of a maritime blockade as key agenda items.
Forecast Trend Report by Period
International oil prices rose as uncertainty surrounding negotiations between the US and Iran intensified.
As of 8:05 a.m. Korea time on April 27, Brent crude futures were trading at $101.31 a barrel, up 2.2% from the previous session, according to Investing.com. West Texas Intermediate crude futures rose 1.93% to $96.22 a barrel.
The gains reflected a stalemate in a second round of talks between Washington and Tehran. On April 25, President Donald Trump canceled plans to send Steve Witkoff, the White House's Middle East envoy, and his son-in-law Jared Kushner to Islamabad, Pakistan, for the second round of negotiations with Iran.
Iran's moves have also been mixed. Foreign Minister Abbas Araghchi visited Islamabad over the weekend, but returned home after meeting only with Pakistani officials.
The possibility of renewed talks, however, has not been fully ruled out. On April 26, a day after visiting Oman, Araghchi returned to Pakistan and continued contacts related to the negotiations. Iran's state-run Tasnim News Agency reported that the latest visit was intended to deliver specific demands tied to ceasefire talks. Iran is known to have presented a new legal framework for the Strait of Hormuz, compensation for war damage, guarantees against renewed aggression and the lifting of a maritime blockade as key agenda items.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
